Spot Gold - near-term action is capped by hourly cloud base

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Spot GOLD Spot Gold maintains negative near-term tone and pressures session low at 1240 zone, hit on strong bearish acceleration during the Asian session. Recovery attempts during early Europe were capped by the base of thick hourly Ichimoku cloud at 1249, reinforced by hourly Kijun-sen line, which marks strong barrier. Extended consolidation between 1240/49 range could be anticipated, before fresh attempts through 1240 and attack at next significant support at 1236 (rising daily30 SMA). Gold

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